Wednesday, July 8, 2015

Try different tactic in fighting war on poverty

Printed in Corvallis Gazette-Times 7/8/2015 and titled "Behavioral economics can reduce poverty." Posting here, in case you missed it.
By Michael A. MacDowell - Insanity has often been defined as doing the same thing over and over again and expecting a different outcome. While this statement is used for a variety of situations, perhaps it is nowhere better applied than in characterizing this country's numerous attempts to eradicate poverty. --In 1964, President Lyndon Johnson declared war on poverty. At the time, 14.7 percent of Americans were living below the poverty line, according to the U.S. Census Bureau. Fast-forward to 2013, and 14.5 percent of our citizens were poor. --Jason Zweig of Money magazine says there are many reasons for the lack of progress in this ongoing battle. In a Wall Street Journal article, he shows that most antipoverty programs have not considered how people actually act.

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